One Buy the Dip, One Sell the Rip
A number of commodities and currencies are setting up trend trades… and they have ETF alternative options setups as well. Here is what is on my radar.
A number of commodities and currencies are setting up trend trades… and they have ETF alternative options setups as well. Here is what is on my radar.
Does the recent bullish momo in the indices signal a return to the uptrend? I don’t think so, and in fact, it’s looking increasing overbought.
NVDA chart is bullish since we have all of the moving averages on the side of the bulls, however, please be cautious since we are coming up to resistance on the daily.
Let’s do what we do every Friday, and review the core markets and the periphery to see how things are aligned into next week.
From the last video we did we were looking for a 100 point bounce in the SPX, took a bit, but certainly came through. Let’s review the SPY going into next week.
The indices are in chop but one in particular is setting up a fade short sell.
Both are happening right now and if you know the structure, strategy is clear. In this update we take a look at crude oil, bonds, Russell, and S&P, as what shorts look good within the NASDAQ.
Today’s light volume rally took us back to the key levels I’ve been waiting for.